Ukraine Hackers allegedly infiltrated the computer servers of PRNewswire , Marketwired and Business Wire, over a five-year period, stealing sensitive information like earnings data, prior to its release. They then fed the intelligence to Vitaly Korchevsky to trade on
He seems like an American success story: an ambitious Russian who came to the U.S. and went from business school to Wall Street to his own hedge fund. But somewhere along the way, U.S. authorities say, Vitaly Korchevsky began orchestrating a new type of financial crime. Korchevsky, 50, was one of several men arrested Tuesday morning in the biggest case of insider trading linked to the fast-growing threat of global cybercrime. Charges against him were unsealed Tuesday in Brooklyn, New York federal court. Working from Russia or Ukraine, hackers infiltrated several computer systems used by corporations to report sensitive information like earnings and then, allegedly with Korchevsky’s help, made millions of dollars trading on the confidential data, people familiar with the matter say.